These, it seemed, were calculations of compound interest on what he called 'the principal amount
of forty-one, ten, eleven and a half', for various periods.
Petroleos Mexicanos has accepted for purchase or exchange the principal amounts of the outstanding series of securities identified as Group A securities and Group B securities, the company said.
On September 21, 2016, Pemex issued USD2,000,000,000 aggregate principal amount of its 4.625 percent notes due 2023 and USD2,000,000,000 aggregate principal amount of its 6.750 percent bonds due 2047 in a concurrent offering.
Pursuant to the exchange offers, Pemex will issue USD69,302,000 aggregate principal amount of newly-issued 4.625 percent notes due 2023 and US USD1,500,000,000 aggregate principal amount of newly-issued 6.750 percent bonds due 2047.
Interest is paid on June 30 and December 31; the inflation-adjusted principal amounts on June 30, 1998 and Dec.
The principal amount of a TIPS will be adjusted for inflation and deflation based on monthly changes in the nonseasonally adjusted US.
TIPS will also provide for an additional payment at maturity if the security's inflation-adjusted principal amount for the maturity date is less than its principal amount at issuance.
The company has accepted for acquisition an aggregate of USD74,762,000 in principal amount
of senior notes, comprising of USD30,562,000 aggregate principal amount
of 9.0% Senior Notes due 2014 and USD44,200,000 aggregate principal amount
of 8.5% Senior Notes due 2017.
354 generally provides that, in most tax-free reorganizations, no gain or loss is recognized to a shareholder on an exchange of stock for stock, or on an exchange of securities for stock or securities of the same or lesser principal amount. Sec.
Consequently, the IRS needed to characterize rights to acquire stock as securities (albeit with no principal amount).
1.354-1(e) and 1.355-1(c) confirm that a right to acquire stock issued by a corporation that is a party to a reorganization is a security of the corporation with no principal amount. Further, Regs.
356 still applies and gain is measured by the entire principal amount of the securities received.